Isle of Man Registry strikes four-vessel deal with Douglas-based shipowner MX Bulk

The Isle of Man Register of Ships (IOMSR) is expanding its fleet after securing a new deal with another Douglas-based shipowner, MX Bulk.

The deal will see the IOMSR flag four new 63,878 MT bulk carriers currently being built by the Tsuneishi Group in Zhoushan, China. The vessels include the recently delivered Ellan Manx (above) and Maye Manx as well as the Greeba Manx and Kirry Manx which will enter service this fall.

IOMSR Director Cameron Mitchell said the registry is delighted to welcome the new vessels which will join five other MX Bulk vessels already under the Manx flag.
“We are very pleased to expand our relationship with MX Bulk,” he said. “We share a lot in common between our Isle of Man headquarters and our dedication to quality, high standards and the welfare of seafarers. The Isle of Man Ship Registry can now offer assistance through our Chinese representative Jon Kingdon in Shanghai. Thanks to Jon, we can provide technical assistance on the ground in China during the construction of the ships as well as here on the island. The Far East and China remain key growth markets for IOMSR, with two-thirds of our fleet now managed in Asia.

Mr Mitchell said bulk carriers make up the largest percentage of vessels on the register, followed by tankers, gas carriers and chemical tankers.

A spokesperson for MX Bulk said: “We are delighted to extend our working relationship with the Isle of Man Ship Registry. Our latest new buildings present particular challenges, given the global geopolitical and economic uncertainty that exists in the world today. The stability of the Isle of Man as a jurisdiction and the professionalism and integrity of the Ship Registry continue to provide great assurance to businesses like ours. We look forward to continuing our working relationship with the Isle of Man Ships Registry for many years to come.

Cameron said there remains considerable respect among tanker and bulk carrier owners for the quality and history associated with the Royal Navy’s allied Red Ensign protecting its ships around the world.

“Owners want a flag they can rely on, especially for speedy tech support,” he said. “This is something the Isle of Man is well known for, whenever there is a fault or issue with Port State Control, the IOMSR team reacts immediately. We furthermore offer our customers a simple, efficient and competitive service.This includes low fees, with an annual payment and no stealth fees, whereas some open registries charge almost all additional services.

“There is no annual tonnage tax based on vessel size, no inspection fees, no consular fees, no accident investigation fees and we offer a discount for fleets to several vessels as well as incentives for environmentally friendly vessels.

“We continue to grow and lead. We were one of the first flag states to offer digital certificates. We were also the first flag state to offer a discount on registration fees for vessels using green technology and we were the first registry to launch a seafarer wellness app to support the mental health of seafarers. .

Background to IOMSR

The IOMSR is one of the world’s leading flag states and is ranked 17th in the world by Clarkson’s with approximately 400 ships and 14 million GT under its flag.

The registry ranks first on the Port State Control whitelist of the Paris MOU and is firmly on the whitelist of the Tokyo MOU Ranking. It is also one of the most successful flags in the US Coast Guard’s Qualship 21 program.

The Register is headquartered in Douglas on the Isle of Man, a self-governing British Crown Dependency and is a Category 1 member of the Red Ensign Group.

The IOMSR was the first flag to accept a modification for a very large gas carrier to run on liquefied petroleum gas (LPG) as a greener fuel for Oslo-listed shipping company BW LPG.

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